| Shareholders’ equity | Note 7. Shareholders’ equity
a. Ordinary Shares As of June 30, 2023 and December 31,
2022, the Company was authorized to issue 3,454,112,863 shares of par value NIS 0.00001 per Ordinary Share. The voting, dividend and liquidation
rights of the holders of the Company’s Ordinary Shares are subject to and qualified by the rights, powers and preferences of the
holders of the preferred shares as set forth below. Ordinary Shares confers upon its holders
the following rights:
i. The right to participate and vote in the Company’s
general meetings. Each share will entitle its holder, when attending and participating in the voting to one vote;
ii. Dividends or distribution shall be paid or be made to the
holders of Ordinary Shares, shall be in an amount equal the product of the dividend or distribution payable or made on each Ordinary
Share determined as if all preferred shares had been converted into Ordinary Shares and the number of Ordinary Shares issuable upon conversion
of such preferred share, in each case calculated on the record date for determination of holders entitled to receive such dividend or
distribution; and
iii. The right to a share in the distribution of the Company’s
excess assets upon liquidation pro rata to the par value of the share held by them.
b. Option and RSUs Plans: A summary of the status of options under
the Plans as of June 30, 2023 and changes during the relevant period ended on that date is presented below:
Number of Weighted- Weighted- Aggregate
(Unaudited)
Outstanding at 31 December, 2022 20,457,660 $ 2.990 6.39 $ 30,984
Granted 1,338,281 4.965
Exercised 2,828,128 2.554
Forfeited 171,216 4.607
Expired 9,089 7.921
Outstanding at June 30, 2023 18,787,508 $ 3.179 6.25 $ 75,623
Exercisable at June 30, 2023 15,141,645 $ 2.910 5.74 $ 65,007 The weighted average fair values at grant date
of options granted for the six months ended June 30, 2023 and 2022 were $2.65 and $3.25 per share, respectively. A
summary of the status of RSUs under the Plans as of June 30, 2023 and changes during the relevant period ended on that date is
presented below:
June 30,
(Unaudited)
Unvested at beginning of year 6,391,352
Granted 4,315,861
Vested 1,219,519
Forfeited 752,114
Unvested at end of the period 8,735,580 The weighted average fair value at grant date of RSUs granted for the
six months ended June 30, 2023 was $5.02. T
Six months ended June 30,
2023 2022
(Unaudited) (Unaudited)
Cost of revenues $ 800 $ 587
Research and development 2,281 1,251
Sales and marketing 3,179 2,529
General and administrative 2,797 2,096
$ 9,057 $ 6,463 As of June 30, 2023, there were unrecognized compensation
costs of $48,936, which are expected to be recognized over a weighted average period of approximately 3.1 years.
c. 2021 Employee Share Purchase Plan: On August 5, 2021, the Company adopted
the 2021 Employee Share Purchase Plan (“ESPP”). The aggregate number of Ordinary Shares
that may be issued pursuant to rights granted under the ESPP shall be 1,871,687 Shares. In addition, on the first day of each calendar
year beginning on January 1, 2023 and ending on and including January 1, 2033, the number of Ordinary Shares available for issuance under
the Plan shall be increased by that number of Ordinary Shares equal to the lesser of (a) 1.0% of the Shares outstanding on the last day
of the immediately preceding calendar year, as determined on a fully diluted basis, and (b) such smaller number of Ordinary Shares as
may be determined by the Board. If any right granted under the ESPP shall for any reason terminate without having been exercised, the
Shares not purchased under such right shall again become available for issuance under the ESPP. |
